{"id":44,"date":"2024-01-10T01:05:00","date_gmt":"2024-01-10T01:05:00","guid":{"rendered":""},"modified":"2026-05-01T11:18:48","modified_gmt":"2026-05-01T11:18:48","slug":"etf","status":"publish","type":"post","link":"https:\/\/www.vda1735.com\/index.php\/2024\/01\/10\/etf\/","title":{"rendered":"\u9ad8\u80a1\u606f\u6216\u5927\u76e4\u6307\u6578ETF\u9078\u4e00\u7684\u8a71\uff0c\u4f60\u6703\u9078\u54ea\u500b\uff1f"},"content":{"rendered":"

\u4eca\u65e9\u770b\u5230\u7da0\u89d2\u91ab\u5e2b\u5beb\u4e86\u4e00\u7bc7\u6587\u7ae0\uff0c\u5176\u5927\u610f\u662f\u5f9e<\/span>2008<\/span>\u5e74\u4e00\u6b21\u6295\u5165<\/span>2000<\/span>\u842c\u65b0\u53f0\u5e63\u81f3<\/span>0050 vs. 0056<\/span>\uff0c\u4f86<\/span>PK<\/span>\u5169\u8005\u7d93\u904e\u5305\u542b<\/span>2023<\/span>\u5e74\u9ad8\u80a1\u606f\u5927\u7206\u767c\u4e00\u5e74\u53ca\u904e\u53bb\u5e7e\u5e74\u7684\u6d17\u79ae\u4e4b\u5f8c\uff0c\u8cc7\u7522\u6578\u984d\u7684\u5dee\u7570\u3002<\/span><\/span><\/p>\n

<\/p>\n


\n.
\n<\/span>\u5176\u5dee\u7570\u771f\u7684\u5f88\u53ef\u89c0\uff0c\u6709\u8208\u8da3\u7684\u4eba\u53ef\u4ee5\u81ea\u884c\u53bb\u7da0\u89d2\u91ab\u5e2b\u7684\u7c89\u5c08\u770b\u3002\u9019\u88e1\u4e0d\u662f\u8981\u8b1b\u6307\u6578\u597d\u9084\u662f\u9ad8\u80a1\u606f\u597d\uff0c\u800c\u662f\u5f9e\u4e2d\u89c0\u5bdf\u5230\u53e6\u4e00\u4ef6\u6709\u8da3\u7684\u4e8b\u60c5\u3002<\/span>
\n.
\n<\/span>\u9ad8\u80a1\u606f<\/span>ETF<\/span>\u7522\u751f\u7684\u80cc\u666f\u662f\u4ec0\u9ebc\uff1f\u5c31\u662f\u9000\u4f11\u73fe\u91d1\u6d41\u4e0d\u5920\u7528\uff0c\u6295\u4fe1\u60f3\u51fa\u4f86\u7684\u7b26\u5408\u6c11\u60c5\u7684\u7522\u54c1\u3002<\/span>
\n.
\n<\/span>\u5982\u679c\u4e00\u500b\u4eba\u9000\u4f11\u5c31\u662f\u5df4\u5df4\u7684\u53ea\u6709<\/span>2000<\/span>\u842c\u8cc7\u7522\uff0c\u8981\u591a\u4e5f\u6c92\u6709\uff0c\u9000\u4f11\u7576\u4e0b\u5168\u90e8\u653e<\/span>0050<\/span>\uff0c\u5047\u8a2d\u6b96\u5229\u7387<\/span>2-3%<\/span>\u9593\uff0c\u7b97<\/span>2%<\/span>\u5c31\u597d\uff0c\u90a3\u9ebc\u6bcf\u5e74\u7684\u914d\u606f\u73fe\u91d1\u6d41\u5c31\u662f<\/span>40<\/span>\u842c\uff1b<\/span>
\n.
\n<\/span>\u5047\u8a2d\u4ed6\u9000\u4f11\u7576\u4e0b\u5168\u90e8\u653e<\/span>0056<\/span>\uff0c\u6b96\u5229\u7387\u8fd1\u5e74\u4f86<\/span>5-8%<\/span>\u4e0d\u7b49\uff0c\u7b97\u5c11\u4e00\u9ede<\/span>5%<\/span>\u5c31\u597d\u7684\u8a71\uff0c\u90a3\u9ebc\u6bcf\u5e74\u7684\u914d\u606f\u73fe\u91d1\u6d41\u5c31\u662f<\/span>100<\/span>\u842c\u3002<\/span>
\n.
\n<\/span>\u524d\u8ff0\u9000\u4f11\u7684\u9019\u500b\u4eba\uff0c\u82e5\u5e0c\u671b\u6bcf\u5e74\u80fd\u6709\u300c\u7acb\u5373\u770b\u5f97\u5230\u7684\u300d<\/span>100<\/span>\u842c\u7684\u73fe\u91d1\u6d41\uff0c\u82e5\u8981\u9760<\/span>0050<\/span>\u5403\u559d\uff0c\u9700\u8981<\/span>5000<\/span>\u842c\u7684\u8cc7\u7522\uff0c\u518d\u5f9e\u4e2d\u8cfa\u53d6<\/span>2%<\/span>\u914d\u606f\uff0c\u8001\u5be6\u8aaa\uff0c\u6709\u5e7e\u500b\u666e\u901a\u53d7\u85aa\u968e\u7d1a\u7684\u4eba\u5728\u5de5\u4f5c\u4e00\u8f29\u5b50\u5f8c\uff0c\u80fd\u7d2f\u7a4d\u9019\u9ebc\u591a\u8cc7\u7522\u5462\uff1f\u6211\u60f3\u5f88\u96e3\u3002<\/span>
\n.
\n<\/span>\u51fa\u81ea\u65bc\u4eba\u6027\uff0c\u5f88\u81ea\u7136\u7684\u9078\u64c7\uff0c\u5c31\u662f\u76e1\u91cf\u60f3\u8fa6\u6cd5\u62da\u5230<\/span>2000<\/span>\u842c\u7684<\/span>0056<\/span>\uff0c\u4ee5\u5728\u4e0d\u8ce3\u80a1\u7684\u524d\u63d0\u4e0b\uff0c\u5275\u9020\u51fa\u6bcf\u5e74<\/span>100<\/span>\u842c\u7684\u73fe\u91d1\u6d41\u3002<\/span>
\n.
\n<\/span>\u82e5\u52c9\u5f37\u5c31\u53ea\u80fd\u64e0\u51fa<\/span>1000<\/span>\u842c\u7684\u8cc7\u7522\u5462\uff1f\u6240\u4ee5\u5c31\u51fa\u73fe\u865f\u7a31<\/span>10%<\/span>\u6b96\u5229\u7387\u7684\u9ad8\u80a1\u606f\u7522\u54c1\uff0c\u8b93\u4f60\u770b\u5f97\u898b\u60f3\u671b\u5f97\u5230\uff0c\u5373\u4f7f\u53ea\u6709<\/span>1000<\/span>\u842c\u7684\u8cc7\u7522\uff0c\u4e5f\u80fd\u5920\u5275\u9020\u6bcf\u5e74<\/span>100<\/span>\u842c\u7684\u73fe\u91d1\u6d41\u3002<\/span>
\n.
\n<\/span>\u300c\u7acb\u5373\u770b\u5f97\u5230\u7684\u300d\u6bcf\u5e74<\/span>100<\/span>\u842c\u73fe\u91d1\u6d41\uff0c\u8207\u300c\u4ee5\u5341\u5e74\u70ba\u55ae\u4f4d\u4f86\u770b\u7684\u300d\u5e02\u503c\u589e\u52a0\u4e14\u5e36\u4f86\u73fe\u91d1\u6d41\u7684\u6210\u9577\uff0c\u6d88\u8cbb\u8005\u6bd4\u8f03\u807d\u5f97\u61c2\u4e14\u6709\u611f\u7684\uff0c\u6703\u662f\u524d\u8005\uff0c\u9019\u4e5f\u662f\u9ad8\u80a1\u606f<\/span>ETF<\/span>\u5982\u6b64\u592f\u7684\u539f\u56e0\u4e4b\u4e00\u5427\u3002<\/span>
\n.
\n<\/span>\u5728\u8077\u5834\u4e0a\u4e5f\u662f\u3002\u6bcf\u4e00\u500b\u4f01\u5283\u66f8\uff0c\u8001\u95c6\u60f3\u770b\u5230\u7684\u90fd\u662f\u6295\u8cc7\u56de\u6536\u5e74\u9650\u662f\u300c\u5e7e\u500b\u6708\u300d\uff1f<\/span>
\n.
\n<\/span>\u9084\u672c\u671f\u9593\u6cd5\uff08<\/span>Payback Period Method<\/span>\uff09\u516c\u5f0f\u70ba\uff1a\u9084\u672c\u671f\u9593<\/span> = [<\/span>\u6295\u8cc7\u6de8\u984d<\/span> \/ <\/span>\u6bcf\u5e74\u73fe\u91d1\u6de8\u6d41\u5165<\/span>] = \u00d7\u00d7<\/span>\uff08\u5e74\uff09<\/span> \uff0c\u5176\u4e2d\u9084\u672c\u671f\u9593\u8d8a\u77ed\u8d8a\u597d\u3002<\/span>
\n.
\n<\/span>\u6ce8\u610f\u4ed6\u5011\u60f3\u770b\u7684\u55ae\u4f4d\u662f\u300c\u6708\u300d\uff0c\u4e0d\u662f\u300c\u5e74\u300d\uff0c\u4f60\u82e5\u8ddf\u4ed6\u8aaa<\/span>10<\/span>\u500b\u6708\u4e4b\u5f8c\uff0c\u53ef\u4ee5\u6524\u63d0\u5b8c\u7562\uff0c\u6bcf\u500b\u6708\u53ef\u4ee5\u8ca2\u737b\u591a\u5c11\u71df\u6536\u8ddf\u7522\u503c\uff0c\u61c9\u8a72\u5f88\u5bb9\u6613\u901a\u904e\uff1b\u82e5\u4f60\u8ddf\u4ed6\u8aaa\uff0c<\/span>10<\/span>\u5e74\u4ee5\u5f8c\u6703\u7ffb\u500d\u751a\u81f3\u6578\u500d\u56de\u672c\uff0c\u4f46\u662f<\/span>10<\/span>\u5e74\u4e4b\u5167\u53ef\u80fd\u4e0d\u6562\u4fdd\u8b49\u80fd\u6709\u8ca2\u737b\uff0c\u9019\u4efd\u4f01\u5283\u66f8\u8981\u901a\u904e\u7684\u53ef\u80fd\u6027\u61c9\u8a72\u76f8\u7576\u4f4e\u3002<\/span>
\n.
\n<\/span>\u7576\u7136\uff0c\u719f\u7a14\u8cc7\u672c\u652f\u51fa\u6524\u63d0\u8a08\u7b97\u6cd5\u5247\u7684\u4eba\u5c31\u660e\u767d\uff0c\u9084\u672c\u671f\u9593\u6cd5\u7684\u8a08\u7b97\u65b9\u5f0f\uff0c\u96d6\u7136\u5bb9\u6613\u7406\u89e3\u3001\u8a08\u7b97\u55ae\u7d14\uff0c\u6700\u5927\u7684\u7f3a\u9ede\u5c31\u662f\uff1a<\/span>
\n.
\n(1)<\/span>\u5ffd\u7565\u8ca8\u5e63\u4e4b\u6642\u9593\u50f9\u503c\u3002<\/span>
\n(2)<\/span>\u5ffd\u7565\u9084\u672c\u671f\u9593\u5f8c\u4e4b\u73fe\u91d1\u6536\u76ca\u3002<\/span>
\n(3)<\/span>\u672a\u8003\u616e\u9084\u672c\u671f\u9593\u5f8c\u4e4b\u6b98\u503c\u3002<\/span>
\n.
\n<\/span>\u4e0a\u8ff0\u9019\u4e09\u9805\uff0c\u4e5f\u662f\u5728\u6295\u8cc7\u4e0a\uff0c\u9ad8\u5ea6\u8ffd\u6c42\u6b96\u5229\u7387\u53ca\u73fe\u91d1\u6d41\u7684\u6295\u8cc7\u4eba\uff0c\u5f88\u5bb9\u6613\u5ffd\u7565\u7684\u9805\u76ee\u3002<\/span>
\n.
\n<\/span>\u4eba\u90fd\u559c\u6b61\u80fd\u5920\u7acb\u5373\u770b\u5f97\u5230\u3001\u9810\u4f30\u5f97\u5230\u7684\u6578\u5b57\uff0c\u9019\u4e5f\u662f\u6295\u4fe1\u5011\u5728\u767c\u884c\u6642\uff0c\u4ee5\u6d88\u8cbb\u8005\u89c0\u9ede\u53bb\u8a2d\u8a08\u51fa\u80a1\u6c11\u5011\u6703\u60f3\u8981\u8cb7\u55ae\u7684\u7522\u54c1\u3002<\/span>
\n.
\n<\/span>\u8eab\u70ba\u521d\u5b78\u8005\uff0c\u591a\u770b\u770b\u5404\u5bb6\u5b78\u6d3e\u3001\u591a\u6240\u5617\u8a66\u5012\u662f\u7121\u59a8\uff0c\u4f46\u662f\u8eab\u70ba\u8cc7\u6df1\u80a1\u6c11\uff0c\u6709\u9918\u88d5\u7814\u7a76\u9032\u4e00\u6b65\u7684\u6295\u8cc7\u7406\u8ad6\u53ca\u6578\u64da\uff0c\u6211\u767c\u73fe\u5404\u6295\u8cc7\u6d41\u6d3e\uff0c\u6700\u5f8c\u9084\u662f\u62ff\u4e00\u500b\u6bd4\u4f8b\u7684\u6301\u80a1\uff0c\u6f38\u6f38\u9760\u650f\u5230<\/span>0050<\/span>\u3001<\/span>006208<\/span>\uff0c\u6216\u662f<\/span>VT<\/span>\u3001<\/span>VTI<\/span>\uff0c\u642d\u914d\u50b5\u5238\u9019\u7a2e\u8cc7\u7522\u914d\u7f6e\u3002<\/span>
\n.
\n<\/span>\u6700\u8fd1\u6b20\u4e86\u4e0d\u5c11\u672c\u66f8\u7684\u95b1\u8b80\u50b5\uff0c\u65b9\u624d\u5229\u7528\u5065\u8eab\u56de\u4f86\u7684\u7a7a\u6a94\u8a8d\u771f\u653e\u5728\u4e00\u8d77\uff0c\u4e00\u5fc3\u591a\u7528\u8b80\u4e86\u4e00\u4e0b\uff0c\u4e0a\u8ff0\u662f\u6211\u5927\u7d04\u5f97\u5230\u7684\u7d50\u8ad6\u3002<\/span>
\n.
\n<\/span>\u8cc7\u91d1\u5c11\u7684\u6642\u5019\uff0c\u8b1b\u7a76\u6295\u5831\u7387\u7684\u6642\u5019\uff0c\u4eba\u5011\u96e3\u514d\u60f3\u8d70\u6280\u8853\u5206\u6790\u3001\u50f9\u503c\u6295\u8cc7\u3001\u9078\u80a1\uff0c\u60f3\u8fa6\u6cd5\u8d85\u8d8a\u5927\u76e4\uff1b\u7b49\u5230\u6253\u597d\u4e00\u500b\u57fa\u5e95\uff0c\u73fe\u91d1\u6d41\u66ab\u6642\u80fd\u4fdd\u4f4f\u4e4b\u5f8c\uff0c\u4e0d\u514d\u90fd\u6703\u8f49\u4e00\u4e9b\u6bd4\u4f8b\uff0c\u5230\u6307\u6578\u6295\u8cc7<\/span>+<\/span>\u50b5\u5238\u7684\u300c\u8cc7\u7522\u914d\u7f6e\u300d\u7684\u8def\u4e0a\u3002<\/span>
\n.
\n<\/span>\u9019\u662f\u4eca\u5929\u767c\u73fe\u7b2c\u4e8c\u4ef6\u6709\u8da3\u7684\u4e8b\u60c5\u3002\u4ee5\u4e0a\u50c5\u500b\u4eba\u89c0\u5bdf\u611f\u60f3\uff0c\u975e\u8cb7\u8ce3\u5efa\u8b70\uff0c\u8207\u5404\u4f4d\u5206\u4eab\u4e4b\u3002<\/span><\/o:p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

\u4eca\u65e9\u770b\u5230\u7da0\u89d2\u91ab\u5e2b\u5beb\u4e86\u4e00\u7bc7\u6587\u7ae0\uff0c\u5176\u5927\u610f\u662f\u5f9e2008\u5e74\u4e00\u6b21\u6295\u51652000\u842c\u65b0\u53f0\u5e63\u81f30050 vs. 0056\uff0c\u4f86PK […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[5],"class_list":["post-44","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-5"],"_links":{"self":[{"href":"https:\/\/www.vda1735.com\/index.php\/wp-json\/wp\/v2\/posts\/44","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vda1735.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vda1735.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vda1735.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vda1735.com\/index.php\/wp-json\/wp\/v2\/comments?post=44"}],"version-history":[{"count":1,"href":"https:\/\/www.vda1735.com\/index.php\/wp-json\/wp\/v2\/posts\/44\/revisions"}],"predecessor-version":[{"id":45,"href":"https:\/\/www.vda1735.com\/index.php\/wp-json\/wp\/v2\/posts\/44\/revisions\/45"}],"wp:attachment":[{"href":"https:\/\/www.vda1735.com\/index.php\/wp-json\/wp\/v2\/media?parent=44"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vda1735.com\/index.php\/wp-json\/wp\/v2\/categories?post=44"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vda1735.com\/index.php\/wp-json\/wp\/v2\/tags?post=44"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}